Aeternity (AE)
$0.116522 (-5.63 %) View coin |
ICON (ICX)
$0.423128 (1.79 %) View coin |
Komodo (KMD)
$0.561573 (-0.89 %) View coin
Newsletter
28 October 2019

3 coins to keep an eye on | Issue #53

Hello everyone!

Traders bored with Bitcoin’s compressed range can relish the nearly 43% surge in the price during last week. The bullish euphoria may be short-lived, though, as a view of the higher timeframes shows a retest of the lower bound of the summer’s range. 

Will this old support turn into resistance before a further drop? It’s too early to say. Meanwhile, the altcoin marketcap also climbed from $74 to $81 billion, showing some rekindled interest from investors and traders.

While we wait for the outcome of this retest, here are three coins with events listed on CoinMarketCal during the upcoming week to keep an eye on.

@tradeprophet


Aeternity (AE)

Aeternity (AE)

Price
$0.234279 (11.22 %)
฿0.00002505 (10.66 %)

Market Cap
$67 650 456
฿7 232.65

Volume (24h)
$49 993 135
฿5 344.87

Exchange
Binance

It’s been a rocky road for the holders waiting for AE to reclaim its former glory. Since the last swing high in April, the price has steadily declined - but the trend may be turning.

A curved bottom has been forming since August. In mid-October, price entered the weekly orderblock that had kept it pinned down since August. An explosion from this orderblock tapped the next significant weekly orderblock overhead before the price dropped back to support.

A range will likely form here, and the recent Ichimoku cloud’s TK cross and rising volume suggest a bullish bias. Wednesday’s hardfork could encourage bulls to hold the current support and give traders a chance to profit from a new range.


ICON (ICX)

ICON (ICX)

Price
$0.164041 (8.50 %)
฿0.00001754 (8.21 %)

Market Cap
$82 170 172
฿8 784.98

Volume (24h)
$40 149 071
฿4 292.42

Exchange
Binance

ICX investors have been as disappointed as AE holders during the continued drop since the last swing high in March. Currently, the price is setting up both bullish and bearish scenarios.

A drop last week below the previous low at 0.00001610, set on August 9th, was promptly bought up. This bullish interest created a long lower wick that some traders might view as a double bottom. The RSI also entered the oversold region, suggesting that there is room for healthy growth in price.

However, bears may be eyeing the overlap of daily orderblocks near the previous range’s support and setting up shorts. While it’s a classic retest scenario, Tuesday’s events could give enough strength to bulls for them to blast through the bears’ stops - creating an explosive move upward.


Komodo (KMD)

Komodo (KMD)

Price
$0.555014 (3.28 %)
฿0.00005934 (3.52 %)

Market Cap
$64 731 916
฿6 920.62

Volume (24h)
$3 357 342
฿358.94

Exchange
Binance

A nearly three-month-long consolidation period ended with KMD’s abrupt move down last week. Rising volume near the bottom of the movement suggests that someone is buying from the panicked sellers.

This move also pushed the RSI into oversold levels, giving bulls room to breathe. It remains to be seen whether the price will retest the daily orderblock and weekly level at 0.000067, where there was previously support.

If this retest occurs, it gives bears an excellent short entry. However, a favorable outcome of the AtomicDEX stress test on Thursday might help bulls push through the retest and claim previous support. If the stress test goes poorly, KMD’s long-term downtrend might resume until it finds a new bottom.

Newsletter
03 August 2020
3 coins to keep an eye on | Issue #89
Bitcoin continued rocketing upward after last week's break of the bearish trendline, despite the weekend producing a 12% drop. Overall, the price exploded nearly 22% upward to close at $11,071, over 11% higher than the week's open. Euphoria overwhelmed the altcoin market. The marketcap climbed from $116 billion to nearly $...
Newsletter
13 July 2020
3 coins to keep an eye on | Issue #86
During the last week, there's been no relief for traders anxious to see a resolution to Bitcoin's current range. The price ran the previous weekly highs, covering a 4.56% range from low to high before closing a few dollars above the monthly level at $9,294. Meanwhile, the altcoin marketcap climbed a similar percentage from...
Newsletter
08 June 2020
3 coins to keep an eye on | Issue #81
Last week, Bitcoin managed to close over the monthly level at $9,676 after covering a 12.5% range from low to high.  The 3.2% higher close came after rejecting higher timeframe levels, leaving some speculating that this was a stop run before a retrace. In contrast, others insist that a bullish breakout is imminent. ...

3 coins to keep an eye on 👀